Contract Law - Assignment Sample
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Added on 2020-01-07
Contract Law - Assignment Sample
Added on 2020-01-07
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Contract Law
Table of ContentsINTRODUCTION...........................................................................................................................3SECTION A.....................................................................................................................................3QUESTION (A)..........................................................................................................................3QUESTION (B)..........................................................................................................................7CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................11
INTRODUCTIONIts is a very clear fact that half of the world is being governed by business organisationwho has been dealing with all kind of business activity. One of the most practised activity inbusiness organisation is signing deal with the other organisation. This is one of the mostimportant activity but it has been observed that many fraud and illegal act has been carried outwhile signing any deal which is why government has implemented a very important law calledlaw of contract.(McKendrick, 2014.) Contract has various aspects which shall create the layer ofprotection to all those employee who have been making any contract with any other country. Thefollowing project shall aim to reflect various aspects of contract. The purpose of drafting thisproject is to modify the skill and knowledge about law of contract with reference to businessscenario and to portrait benefits and limitation of contract law.SECTION AQUESTION (A)When the contract has been formed by the party then it is very important while makingthe contract to include all the essential elements.(Poole, 2016. ) The the elements of the contracthas not been included while the formation has been taking place then such contract shall beentitled as void contract by which no legal liability or legal obligation shall fall on to the parties.So, any business organisation whether it is related to construction of business, shall make theproject with all the essential elements and those are:-Parties- when any construction business organisation is ought to make a contract with thedeveloper, it is very important that parties shall be either 2 or more then 2. no contract shall bemade with the party itself. It is always necessary that 2 parties shall be present or more then 2parties who have the same interest to create a contract.(Hillman, 2012. ) Such parties who havebeen entering into a contract shall be competent to it that is the party shall not be minor,insolvent or unsound mind.Offer- when the developer has a interest to create a contract with construction company then itmust propose an offer to the company regarding the contract. It is very important to make anoffer to the company from whom a contract has been signed. Without offer no party can enterinto a contract. An offer to a contract show that the party has a lawful interest in entering into acontract.
Acceptance- when the offer has been made by one party then the acceptance has to be given byanother party. Without acceptance then other party cannot enter into a contract. An acceptance toa offer reflects that the other party has the same intention to enter into a contract. The acceptanceto a contract shall be given without any force or undue influence. If any acceptance has beenattained by undue influence then such shall not be considered as lawful acceptance.Consideration- while the party make any contract with the other party then it must include alawful consideration in the contract.(Twigg-Flesner, 2013.) A consideration shall be referred asexchange of value of one party to another. The consideration to a contract must be lawful innature. It is very important essential to a contract. Without consideration, given by the parties nocontract shall be formed.Agreement- an agreement shall be formed prior making of the contract. It is very necessary thatbefore entering into a contract, both the parties must carry out an agreement. An agreement to acontract means some terms and condition of a contract on which the parties have agreed andwhen any breach occur in the provision of contract then suitable suit shall be brought againstthem, an agreement to a contract raise certain legal obligation on both the parties.Hence these are some of the essential elements which shall be included in the formation of avalid contract.(Cartwright, 2016. ) But there are certain situation in which the contract which hasbeen formed by the parties get breach result into damages to the party. For an example a contracthas been established between a developer and a contract but some of the provisions are alteredwhich has resulted into breach of contract then parties has the right to file a case against the partwho had breached contract by contact to JTC.JTC is joint contracts Tribunal which is made of seven members who deals with the cases relatedto building and construction industries. It represent to all the standard form of contract which hasbeen formed by the parties in context to building and construction and give a guidance note onthe same. The main purpose of Joint Contract Tribunal is to establish a relief for all those partieswho have being suffering from any kind of breach and damages of contract and to diminish allthe risk factors of the parties. Joint Contract Tribunal deal with the type of contract which hasbeen made on standard building and design and Build.(DiMatteo, 2013.) The standars formatwhich has been carried out in a contract of building and construction is while making thecontract, first of all an article and agreement has to be formed by the parties then there shall beindulgement of particular information specific to the provision of contract. It is very important
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